PM in Chermside
- Thread starter Guan
- Start date
Hi Guan,
I have 2 IP's in that area (stafford) and are currently using both LJ Hooker Stafford and Coronis. The reason I am using two different pm's is because I normally use the realtor that is handling the sale as IMHO it makes the transaction a little easier when purchasing an IP that is already tenanted.
I have been comparing the service of both companies (with a view of having only one PM) and so far both are fine although I think Coronis is a little better (I just like the way they do business). I havent had any real problems with tenants in these properties yet so I havent seen their performance in dealing with difficult situations though (lets hope I don't need to).
I have 2 IP's in that area (stafford) and are currently using both LJ Hooker Stafford and Coronis. The reason I am using two different pm's is because I normally use the realtor that is handling the sale as IMHO it makes the transaction a little easier when purchasing an IP that is already tenanted.
I have been comparing the service of both companies (with a view of having only one PM) and so far both are fine although I think Coronis is a little better (I just like the way they do business). I havent had any real problems with tenants in these properties yet so I havent seen their performance in dealing with difficult situations though (lets hope I don't need to).
Our office has several managements in and around Chermside...We are based at McDowall (next suburb) and Albany Creek.
Call Rosa on 3325 6255/0404 975 599 for a chat, she is a very experience PM and an avid investor herself with multiple properties locally so she knows the local market very well...for the price of a phone call you can work out if she is someone you can work with. I am biased obviously working with her, but i would put her up against any PM locally - and we know most of them having been working the area for a few years now!! Rosa's family are also local developers so she has a very very sound knowledge of the North Brisbane area and especially Chermside.
when selecting a PM, find out who exactly will be looking after your property, some companies with massive rent rolls don't have a specific person to speak to and you can get lost in the crowd...
Make sure the person you are working with is someone you can talk to...they might be fantastic, but unless they are approachable and know how to communicate to you - they are not worth it.
also check ALL the costs...the admin and management fees are only a part of it at some agencies, you shouldn't be paying more than about 8.5% anywhere in Brisbane (ours are lower - a lot lower for multiple properties)...but a lot of companies then add postage and petties, statement fees, inspection fees, quarterly inspection fees etc etc etc...all should be a part of the flat % fee.
Most importantly - you must feel comfortable with everything you are told...do not let a prospective PM give you a load of Bull - remember they are trying to attract your business and many will tell you anything to secure it! test them out and make them earn your business.
Hope this helps some!!!
cheers
UC
Call Rosa on 3325 6255/0404 975 599 for a chat, she is a very experience PM and an avid investor herself with multiple properties locally so she knows the local market very well...for the price of a phone call you can work out if she is someone you can work with. I am biased obviously working with her, but i would put her up against any PM locally - and we know most of them having been working the area for a few years now!! Rosa's family are also local developers so she has a very very sound knowledge of the North Brisbane area and especially Chermside.
when selecting a PM, find out who exactly will be looking after your property, some companies with massive rent rolls don't have a specific person to speak to and you can get lost in the crowd...
Make sure the person you are working with is someone you can talk to...they might be fantastic, but unless they are approachable and know how to communicate to you - they are not worth it.
also check ALL the costs...the admin and management fees are only a part of it at some agencies, you shouldn't be paying more than about 8.5% anywhere in Brisbane (ours are lower - a lot lower for multiple properties)...but a lot of companies then add postage and petties, statement fees, inspection fees, quarterly inspection fees etc etc etc...all should be a part of the flat % fee.
Most importantly - you must feel comfortable with everything you are told...do not let a prospective PM give you a load of Bull - remember they are trying to attract your business and many will tell you anything to secure it! test them out and make them earn your business.
Hope this helps some!!!
cheers
UC
Guan,
Their rates are comparable to much of the industry but you may be able to negeotiate lower rates if you have multiple properties. I understand they carry out a mid point and end of lease inspections but I am not totally sure. I do know I was happy with their inspection svhedule when I engaged them. I don't know about wether they would take photos (I don't know if this violates a tenants privacy or not) but it wouldn't hurt to ask when you start checking out prospective PM's.
I'd give them a call and they can email you a lot of details to you that will help you make a decision on a good PM.
Bretto
Their rates are comparable to much of the industry but you may be able to negeotiate lower rates if you have multiple properties. I understand they carry out a mid point and end of lease inspections but I am not totally sure. I do know I was happy with their inspection svhedule when I engaged them. I don't know about wether they would take photos (I don't know if this violates a tenants privacy or not) but it wouldn't hurt to ask when you start checking out prospective PM's.
I'd give them a call and they can email you a lot of details to you that will help you make a decision on a good PM.
Bretto
they SHOULD be doing quarterly inspections whilst tenanted as well as exit and entry condition reports upon change over of tenant...and they should not be charging for them
if they are not doing all the allowable inspections and communications then one must wonder how much they care about your business!!??!!
they should be taking a very comprehensive set of photos at every entry and exit and specific photos of any damage or wear and tear at ANY inspection...this will help prove if a tenant has caused damage to the property or if the damage is fair wear due to age...
Bretto, i would give Rosa a call too and at least get her to run a service and fee comparison for you...there are other PM's on this forum too who appear to know what they are doing and operate on the north side of Brisbane...i can't explain why in a public forum but would be happy to explain more to you - or Rosa can.
for the record - and so noone thinks i am hiding behind a moniker (most folks here know me anyway) we are Harcourts Bertie Group - with two offices at McDowall and Albany Creek...so we are only a couple of minutes drive to any of the areas you are talking about.
THis is your investment fellas...and your future!!! make SURE that your PM is doing the job right by you and has your best interests at heart - they are required to by law, but unfortunately a lot of agencies are just taking fees to fund their advertising campaigns and office and admin costs, not because they have a passion for property management - i know because i used to work for an agency that did exactly that...
hope this helps you some...
cheers
UC
if they are not doing all the allowable inspections and communications then one must wonder how much they care about your business!!??!!
they should be taking a very comprehensive set of photos at every entry and exit and specific photos of any damage or wear and tear at ANY inspection...this will help prove if a tenant has caused damage to the property or if the damage is fair wear due to age...
Bretto, i would give Rosa a call too and at least get her to run a service and fee comparison for you...there are other PM's on this forum too who appear to know what they are doing and operate on the north side of Brisbane...i can't explain why in a public forum but would be happy to explain more to you - or Rosa can.
for the record - and so noone thinks i am hiding behind a moniker (most folks here know me anyway) we are Harcourts Bertie Group - with two offices at McDowall and Albany Creek...so we are only a couple of minutes drive to any of the areas you are talking about.
THis is your investment fellas...and your future!!! make SURE that your PM is doing the job right by you and has your best interests at heart - they are required to by law, but unfortunately a lot of agencies are just taking fees to fund their advertising campaigns and office and admin costs, not because they have a passion for property management - i know because i used to work for an agency that did exactly that...
hope this helps you some...
cheers
UC
Good luck Bretto...... I can put you in touch with some stories. A friend of mine has an office close to Chermside and has taken over a few managements from your favoured agency and the files and issues were a mess.
We don't handle property management just yet, expect within a few months we'll be launching our PM services, so at the moment I am completely independent. There's no better PM than Carolyn Altoft at Northside First National. 3266 3555.
Kev
www.gogecko.com.au
We don't handle property management just yet, expect within a few months we'll be launching our PM services, so at the moment I am completely independent. There's no better PM than Carolyn Altoft at Northside First National. 3266 3555.
Kev
www.gogecko.com.au
Personally i dont think you can go past Tanya at Mayfair Realty in Clayfield.
I have just given her 20 of my properties on the Northside and she is excellent.
Give her a call on 3262 4533 and tell her i sent yu and see what rate she quotes you.
They have been doing the same thing there at Clayfield for 37 years so they are doing something right.
I even persuaded her to come on the forum and post some interesting PM articles.
I have just given her 20 of my properties on the Northside and she is excellent.
Give her a call on 3262 4533 and tell her i sent yu and see what rate she quotes you.
They have been doing the same thing there at Clayfield for 37 years so they are doing something right.
I even persuaded her to come on the forum and post some interesting PM articles.
Thank you all very much for the recommendations... I came to conclude that I need a PM that has office nearest to my property as it will be more convenient for my property manager, hence I can expect better care from him/her. Also, finding tenants will be easier since most prospective tenants will be looking for agents from the area they want to move into.
I have talked to Ray White Chermside and they seemed very convincing. From their presentation, they have several experienced employees managing their clients' properties. Also, they said that their office is located in busy Gympie Road which is easily recognised.
They offered me a management fee of 7% + GST + postage fee and admin fee or 8% incld. GST, postage and admin fee which I think is pretty fair comparing with quotes I got from agencies recommended in this post.
Their services are as follow:
Our services for this package are to:
1. Advertise the property. The property can be advertised in the Courier Mail if you request at Ray White’s discounted rate, however our most reliable and efficient means of sourcing our new tenants are from the Internet. We are listed on www.raywhite.com, www.realestate.com, www.domain.com
And this is all included in your management fees!
2. Take pictures of the property, internally and externally
3. Screen prospective tenants from application form and references given.
4. Type General Tenancy/ Lease documents.
5. Receipt the initial rent and Bond.
6. Undertake to lodge the Bond and carry out condition report upon initial
inspection and at end of lease.
7. Collect the rent and retain in Trust Account (governed by Auctioneers and Agents – Justice Department).
8. Send out monthly statements and bank directly into respective bank accounts by EFT at the end of every month. There is the option of mid – month Banking which can be discussed with your Property Manager.
9. Owners name and contact phone number not given to tenants as all dealings are handled by your Property Manager at Ray White Chermside.
10. Three monthly inspections of the property are carried out with full reports sent to the Landlord, photo’s included if required at no extra charge!
11. Be in regular contact with owners advising current rental market and best rent to be gained, plus co-ordinate with sales staff for appraisals of property when requested by the owners.
12. Pay local council rates, body corporate fees and any approved maintenance when applicable at no extra charge!
13. Final inspection to be carried out immediately with any defects or maintenance reported to you.
14. Landlords Protection Insurance is another way of protecting your investment at
a cost of approx $225.00 - $260.00 per annum.
What do you guys think? Or is there anyone in here who is currently using them?
Please comment...
I have talked to Ray White Chermside and they seemed very convincing. From their presentation, they have several experienced employees managing their clients' properties. Also, they said that their office is located in busy Gympie Road which is easily recognised.
They offered me a management fee of 7% + GST + postage fee and admin fee or 8% incld. GST, postage and admin fee which I think is pretty fair comparing with quotes I got from agencies recommended in this post.
Their services are as follow:
Our services for this package are to:
1. Advertise the property. The property can be advertised in the Courier Mail if you request at Ray White’s discounted rate, however our most reliable and efficient means of sourcing our new tenants are from the Internet. We are listed on www.raywhite.com, www.realestate.com, www.domain.com
And this is all included in your management fees!
2. Take pictures of the property, internally and externally
3. Screen prospective tenants from application form and references given.
4. Type General Tenancy/ Lease documents.
5. Receipt the initial rent and Bond.
6. Undertake to lodge the Bond and carry out condition report upon initial
inspection and at end of lease.
7. Collect the rent and retain in Trust Account (governed by Auctioneers and Agents – Justice Department).
8. Send out monthly statements and bank directly into respective bank accounts by EFT at the end of every month. There is the option of mid – month Banking which can be discussed with your Property Manager.
9. Owners name and contact phone number not given to tenants as all dealings are handled by your Property Manager at Ray White Chermside.
10. Three monthly inspections of the property are carried out with full reports sent to the Landlord, photo’s included if required at no extra charge!
11. Be in regular contact with owners advising current rental market and best rent to be gained, plus co-ordinate with sales staff for appraisals of property when requested by the owners.
12. Pay local council rates, body corporate fees and any approved maintenance when applicable at no extra charge!
13. Final inspection to be carried out immediately with any defects or maintenance reported to you.
14. Landlords Protection Insurance is another way of protecting your investment at
a cost of approx $225.00 - $260.00 per annum.
What do you guys think? Or is there anyone in here who is currently using them?
Please comment...
be very very careful there...not saying anymore...
their list of services they provide is very standard and simple - nothing to write home about there.
the do offer as low as 4.5% though - but you have to ask for it - a lot of the local developers use them because of the 4.5%...just do your homework is all i will say
you have several recommendations above as you asked for...each of the recommended folks are quite competent and would do the job...try ringing them first and if you don't like any of them then go elsewhere...
their list of services they provide is very standard and simple - nothing to write home about there.
the do offer as low as 4.5% though - but you have to ask for it - a lot of the local developers use them because of the 4.5%...just do your homework is all i will say
you have several recommendations above as you asked for...each of the recommended folks are quite competent and would do the job...try ringing them first and if you don't like any of them then go elsewhere...